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F ex-Time for the MBA M Demand for more work-, life-, and budget-friendly MBA programs continues to rise. In response, business schools are designing new formats, finding new niches, and testing the limits of the "anytime- anywhere" MBA. by Tricia Bisoux any business schools are responding to the mounting demand for MBAs that flex to fit a variety of schedules. But with the rush of so many new, alternative MBA programs to the mar- ket, some educators wonder whether they match the rigor and relevance of the traditional two-year, full-time MBA that has for so long been the mainstay of business education. As educators debate the issue, however, the market already has made its choice. Statistics show that in the U.S., for example, nontraditional programs attract the vast majority of MBA enrollments. In the 2003–2004 academic year, nearly 24 percent of MBA enrollments at AACSB-member schools in the U.S. were in traditional two-year programs, according to AACSB Internation- al. In 2004–2005, that number slipped to slightly more than 21 percent. On the other hand, enrollment in part-time evening and weekend MBA programs at these schools ticked up to 63.7 percent in 2004–2005 from 61.2 percent in 2003–2004. For students considering an MBA, the proliferation of alternative options is undoubtedly good news. Whether they are high-level execs, mid-career man- agers, second-career seekers, or stay-at-home moms, a program exists that will allow them to earn their MBAs without radically changing their lifestyles—or their incomes. Educators emphasize that the challenge for business schools is to design nontraditional MBA models that meet the needs of these students without sacrificing quality. A Worldwide Trend "Flexibility" has become a prominent selling point for MBA programs all over the world. Schools in the U.S., Canada, Europe, and Asia are targeting students who are struggling to strike a balance between their educational goals and their work and family lives. In an emerging market like India, for example, the desire for a work-life- education balance is a relatively new phenomenon among students, says V. Pandurango Rao, vice chancellor of the ICFAI Business School in Hyderabad. In the past, few students returned to school once they began their careers; but that reality is quickly changing, says Rao. "India's booming economy is chang- ing the usual pattern of education. Employees are realizing they need to learn new skills to be competitive," he says. To meet this new generation of Indian MBA candidates, ICFAI has added new options to its programs. In addition to its two-year, full-time MBA, it now also offers a three-year, part-time MBA program in which students meet eve- nings and weekends. The school also is testing a one-year accelerated option. Both programs, Rao says, are gaining tremendous interest. 22 BizEd JULY/AUGUST 2006